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Cyprus News Agency: News in English, 11-11-02

Cyprus News Agency: News in English Directory - Previous Article - Next Article

From: The Cyprus News Agency at <http://www.cyna.org.cy>


CONTENTS

  • [01] PRESIDENT OF ISRAEL - CYPRUS - OFFICIAL VISIT
  • [02] NOBLE ENERGY - CYPRUS - GAS FIELDS

  • [01] PRESIDENT OF ISRAEL - CYPRUS - OFFICIAL VISIT

    President of the State of Israel Shimon Peres arrived in Cyprus Wednesday night for a two day official visit.

    At Larnaka International Airport Peres was welcomed by Foreign Minister Erato Kozakou Markoullis and Israeli Ambassador in Nicosia.

    A red carpet was rolled for Israeli President who did not make any statements and departed right after for Nicosia.

    President Peres will be received Thursday morning by Cyprus President Demetris Christofias at the Presidential Palace.

    [02] NOBLE ENERGY - CYPRUS - GAS FIELDS

    Noble Energy found giant gas fields in Israel and hopes to replicate that in Cyprus, Cyprus Country Manager of Noble Energy John Tomich has said during a lecture entitled Nobles Energy Project in Cyprus at the University of Cyprus (UCY). We were lucky enough to be very successful finding giant gas fields in Israel and we hope to replicate that in Cyprus, he noted.

    In support of this he gave an in depth account of the work being done in Israel by Noble Energy noting that development is underway already on Tamar where the first giant field was found of a value of more than 8 trillion cubic feet. He said that the company has to drill at a depth of more than 5000 meters, which is very similar to block 12 within Cyprus Exclusive Economic Zone.

    Referring to the Israeli Leviathan block, which is 50km from Cyprus own block 12, he said the gas field on that location is probably twice as big as the one in Tamar and spoke of the possibility of cooperation between the governments of Israel and Cyprus. Tomich presented Noble Energys view on the most efficient and flexible means, as he said, of developing a large gas find in Cyprus, that is to say building a liquefying plant.

    He pointed out that although it is very expensive and takes time it would allow Cyprus to export its product anywhere in the world after domestic requirements are fulfilled to the highest bidder, also noting that the site at Vasilikos is the only area the company is aware of that could house such a plant physically.

    Speaking of the prospects of hydrocarbons exploitation for Cyprus, Tomich said that having a major gas project in Cyprus would provide the people of Cyprus with a secure source of energy, adding that it would be the best source of fuel for power generation in terms of fossil fuels.


    Cyprus News Agency: News in English Directory - Previous Article - Next Article
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